World Oil Price Per Barrel Today, Thursday, July 2, 2026
Jakarta, Pintu News – World oil prices per barrel today, Thursday, July 2, 2026, continue the weakening trend seen over the past few days. According to data from tradingeconomics.com, WTI crude oil is trading around USD68.97 per barrel, while Brent is trading at around USD72.98 per barrel.
This decline in oil prices comes as market concerns over supply disruptions in the Middle East ease. Progress in peace efforts between the United States and Iran has led to a resurgence in oil tanker traffic through the Strait of Hormuz, adding to the supply available in the global market.
World Oil Price Table, July 2, 2026
| Oil Type | Price per Barrel (USD) | Daily Change |
|---|---|---|
| WTI Crude Oil | 68.97 | -0.76% |
| Brent Crude Oil | 72.98 | -1.03% |
Source: tradingeconomics.com (data as of July 2, 2026).
Factors Driving World Oil Price Movements
World oil prices have nearly erased all the gains seen since the outbreak of conflict in the Middle East some time ago. Here are several factors affecting oil price movements recently:
1. Easing Geopolitical Tensions: Progress in peace talks between the US and Iran has boosted market confidence in the stability of oil supply from the Persian Gulf region, easing pressure on prices.
2. Surge in Supply from the Middle East and West Africa: Buyers are facing increased crude oil offers from various exporting regions, which is also putting pressure on global prices.
3. Easing of US Policy Toward Iran: A temporary exemption allowing the purchase of already-loaded Iranian oil is expected to add to the supply circulating in the market.
4. US Oil Inventory Data: Although US crude oil inventories are at low levels, market sentiment remains pressured by the abundance of global supply, keeping oil prices on a downward trend.
These movements in world oil prices also affect domestic fuel prices and production costs across various industrial sectors, making it important for businesses and investors alike to keep monitoring them.
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